易站绿色科技(08475) - 2020 Q3 - 季度财报

Financial Performance - For the three months ended May 31, 2020, the group's revenue was HKD 2,604,000, a decrease of 40.7% compared to HKD 4,396,000 for the same period in 2019[6] - The group reported a loss before tax of HKD 803,000 for the three months ended May 31, 2020, compared to a loss of HKD 599,000 in the same period last year, indicating a 34.0% increase in losses[6] - The total comprehensive loss for the three months was HKD 797,000, compared to HKD 606,000 in 2019, reflecting a 31.5% increase in comprehensive losses[7] - For the nine months ended May 31, 2020, the group's revenue was HKD 11,802,000, a slight decrease of 1.4% from HKD 11,974,000 in 2019[6] - The total comprehensive loss for the nine months was HKD 2,371,000, compared to HKD 2,054,000 in the previous year, representing a 15.4% increase in losses[7] - The group incurred a loss per share of HKD 0.54 for the nine months ended May 31, 2020, compared to HKD 0.50 in the same period last year[6] Revenue Sources - The company generated revenue primarily from restaurant operations, food and ingredient sales, and royalty income[40] - Restaurant operations revenue for Q3 2020 was SGD 2,534,000, a decrease of 39.2% from SGD 4,167,000 in Q3 2019[22] - Revenue from restaurant operations in Singapore and Malaysia was approximately SGD 11.4 million, a decrease of 1.5 million SGD or 35.7% compared to the same period last year[41] - The total revenue from food and ingredient sales was SGD 7,000 for Q3 2020, down 95.8% from SGD 165,000 in Q3 2019[22] Other Income and Subsidies - Other income for the same period increased significantly to HKD 1,009,000 from HKD 14,000 in 2019, representing a growth of 7,064.3%[6] - Government subsidies received amounted to SGD 190,000 for Q3 2020, significantly up from SGD 12,000 in Q3 2019[24] - The company reported a total of SGD 1,009,000 in other income for Q3 2020, compared to SGD 14,000 in Q3 2019[24] Costs and Expenses - The company reported a significant increase in employee costs, with salaries and allowances for the nine months ended May 31, 2020, amounting to 3,298 thousand SGD, up from 2,970 thousand SGD in the same period of 2019[29] - Employee costs increased from approximately SGD 3.8 million to SGD 4.1 million, representing a rise of about 7.9% due to the expansion of new restaurants[45] - Rental and related expenses decreased significantly by approximately 83.9%, from SGD 3.1 million to SGD 500,000, primarily due to the implementation of a new accounting standard[46] - Financial costs surged approximately 4.1 times, from SGD 99,000 to SGD 407,000, mainly due to interest on lease liabilities resulting from the new accounting standard[49] - Other expenses rose from approximately SGD 1.9 million to SGD 2.1 million, an increase of about SGD 0.2 million, mainly due to new store openings[48] Shareholder Information - Canola holds approximately 49.32% of the company's issued shares, totaling 216,990,000 shares as of May 31, 2020[57] - The total number of issued shares is 440,000,000, which is the basis for calculating the percentage of ownership[61] - The major shareholders include Ong Hui Hui and Teo Yan Qi Sharon, both holding 49.32% through spousal rights[57] - The company has not repurchased any of its listed securities during the reporting period[64] - No stock options have been granted or exercised under the stock option plan since its adoption on July 23, 2018[65] Corporate Governance - The board of directors confirmed compliance with the GEM Listing Rules regarding securities trading conduct throughout the reporting period[67] - The company has adhered to all applicable corporate governance codes as outlined in the GEM Listing Rules Appendix 15[68] - There are no competitive business interests held by directors or major shareholders that could conflict with the company's operations[70] - The company has established a stock option plan for eligible participants, including directors and full-time employees, but no options have been issued to date[65] - The shareholders' agreement among major shareholders has been in effect since October 1, 2015, ensuring coordinated actions in operational and financial decisions[61] Operational Updates - The company continues to focus on expanding its restaurant operations in Singapore, Malaysia, and Indonesia despite the challenging market conditions[11] - The company plans to expand its restaurant network in Singapore and other Southeast Asian countries by acquiring new franchise brands and opening restaurants in strategic locations[39] - The company currently operates 16 self-owned restaurants and 1 central kitchen, with plans to open additional locations under various brands in Singapore and Malaysia[38] - All stores in Singapore resumed operations on June 19, 2020, following the government's announcement to reopen in the second phase[72] Compliance and Audit - The company appointed Lihau Corporate Finance Limited as its compliance advisor in accordance with GEM Listing Rule 6A.19[71] - The Audit Committee, established on July 23, 2018, consists of three independent non-executive directors and is responsible for reviewing the financial reporting process and internal control systems[75] - The Audit Committee reviewed the unaudited condensed consolidated financial statements and confirmed compliance with applicable accounting standards and GEM Listing Rules[75] Market Conditions - The Singapore government implemented a circuit breaker measure from April 7 to May 4, 2020, which was extended until June 1, 2020, successfully stabilizing the infection rate during this period[72]